1. Commodity noon session

2. Bullions
• Gold gained as the dollar declined for the first day in three,
increasing demand for the precious metal as a haven
against weakening currencies.
• The “choppy” trading may continue ahead of a Federal
Reserve meeting next week.
• The US dollar rallied and commodities fell yesterday amid
speculation that any monetary program by the Fed to boost
the U.S. economy will be gradual.
• The greenback has declined this month on concern that the
currency may be devalued by further monetary easing that
could be announced next week, and this will be acting as a
supporting factor for bullion prices.

3. • China should buy gold to diversify its foreign-
exchange reserves, International Business Daily, a
newspaper affiliated with the Ministry of
Commerce said yesterday. Report also said that
China will have to take this step for
internationalizing Yuan.
• Silver for December-delivery on the Comex
gained as much as 1.1 percent during Asian
trading session after losing 1.8 percent yesterday.

4. Crude oil.
• Crude oil traded near $82 a barrel in New York as a
weakening dollar boosted investor demand for raw
materials.
• An Energy Department report yesterday showed U.S.
gasoline stockpiles plunged unexpectedly last week.
• US dollar declined versus 15 of its 16 major
counterparts ahead of the U.S. Federal Open Markets
Committee meeting led by Chairman Ben Bernanke,
expected to announce a second round of asset
purchases when it meets next week.
• US dollar fell for the first time in three days against the
euro as Asian stocks gained amid optimism the global
recovery remains intact, damping demand for the
greenback as a refuge.

5. • Gasoline stockpiles unexpectedly dropped by 4.39
million barrels to 214.9 million barrels according to EIA
data release. They were estimated to advance by
625,000 barrels.
• Distillate fuel supplies, including heating oil and diesel,
declined 1.61 million barrels, the Energy Department
said. They were forecasted to drop by 1.5 million
barrels.
• U.S. crude inventories increased 5.01 million barrels to
366.2 million in the week ended Oct. 22, the biggest
jump since July.
• Market will be taking cues from the US dollar
movements and equity market movements in the
coming days.

6. Base metals.
• Copper rebounded from a two-day drop as the dollar
resumed a decline, and on concern that there may be
supply disruptions at the world’s fourth-largest mine.
• Workers at Anglo American Plc and Xstrata Plc’s copper
mine in Chile, the world’s largest copper producer,
rejected a company wage offer in a vote yesterday, the
union said.
• Higher prices for base metals have seen demand
destruction happening but a possible supply disruption
may support the prices for short term.
• Copper is currently moving into a seasonally weak
consumption period.

7. • The dollar dropped against a six- currency
basket including the euro on optimism that
the global economic recovery remains intact.
• All eyes are on the European report which
may show that confidence in the region’s
outlook improved for a fifth consecutive
month.
• Aluminum in London rose 0.3 percent, nickel
gained 1 percent and tin added 0.2 percent.